Boymelgreen scores construction loan on Surfside luxury townhome development

Prices start at $1.2M per unit at the the 68-unit townhome

Jan.January 19, 2018 05:30 PM

Rendering of Eden Residences Surfside (Credit: Eden Residences)

Developer Menachem Boymelgreen just secured a $23.5 million construction loan for a planned townhome project in Surfside, property records show.

The developer, under the guise of Eden Surfside LLC, wants to build a 68-unit luxury townhome project on about 2.9 acres. The site, between 93rd and 94th Streets on Collins Avenue, sits across the street from Fendi Château Residences building.

Romspen US Mortgage is the lender.

Records show Boymelgreen paid more than $26.5 million, accumulating the 8-parcel site between 2013 and 2015.

Units at the Eden Residences Surfside will range from 1,500 to 3,000 square feet, and will start at $1.2 million, according to a news release. Designed by Architectonica, the development will include amenities like a private rooftop deck, heated swimming pools, fitness centers and private parking.

The Boymelgreen name is well known in Miami and New York real estate worlds.

The family is tied to a controversial partnership with billionaire Lev Leviev, which failed to successfully build a number of condo developments in New York. Shaya Boymelgreen and Leviev also are responsible for developing downtown Miami’s Marquis Miami building. That partnership was sued by the Marquis Miami Condominium Association for poor construction.

Boymelgreen could not immediately be reached for comment.

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